Uber Technologies (NYSE:UBER) delivered mixed Q1 results, beating EPS estimates by a wide margin but missing on revenue. Gross Bookings rose 14% year-over-year but fell short of expectations, and Q2 guidance, while within the expected range, had a midpoint that merely matched consensus. Still, growth in Delivery and Mobility remains resilient, supported by a vast total addressable market (TAM) and opportunities in adjacent areas like advertising and new modes of transport (bikes, scooters, taxis).
CEO Dara Khosrowshahi continues to push into autonomous vehicle (AV) technology through a series of recent partnerships, including expanded collaborations with WeRide (NASDAQ:WRD), Pony AI (NASDAQ:PONY), and Momenta. These efforts build on the momentum from its existing Waymo partnership, reinforcing the strategic advantage of Uber’s platform for AV technology providers. This emerging segment has the potential to be a high-margin, low-risk opportunity, especially given the lack of a clear leader in the AV space.
For more details, key highlights, and commentary, check out the high-level earnings summary.
